The future of FinTech is racist, according to this anonymous data scientist

This is an excerpt from a long interview between an anonymous data scientist and Logic Magazine about AI, deep learning, FinTech, and the future, conducted in November 2016. LOGIC: One hears a lot about algorithmic finance and things like robo-advisers. And I’m wondering, is it over-hyped? DATA SCIENTIST: I would say that robo-advisers are not doing anything special. It’s AI only in the loosest sense of the word. They’re not really doing anything advanced — they’re applying a formula. And it’s a reasonable formula, it’s not a magic formula, but they’re not quantitatively assessing markets and trying to make predictions. They’re applying…